CHICAGO (Reuters) -- Tower Automotive Inc. said on Wednesday its chief financial officer, Ernie Thomas, resigned effective Wednesday.
Tower did not give a reason for Thomas' departure but said it has begun searching for a successor. Thomas joined the company as chief financial officer in November.
The Grand Rapids, Mich., maker of automotive body structures, frames and chassis modules said it believes its current finance team is sufficient to manage during the transition period.
The resignation of Thomas comes two weeks after Tower named a new president and chief executive, Kathleen Ligocki, to replace retiring Dugald Campbell. Ligocki previously was vice president of Ford Motor Co.'s customer service division and a former chief executive of Ford of Mexico.
Late last year, Tower made headlines when it said it would walk away from making the frame for the Ford Explorer sport utility vehicle rather than cut costs further. The Explorer business was Tower's single-largest contract.
Automakers have been forced into a permanent mode of cost-cutting, partly due to consumer incentives, and in turn demand annual cost reductions from their suppliers.
Tower is 19th on the Automotive News ranking of top 150 suppliers to North American original equipment manufacturers with $2.06 billion in sales in 2002.